Effective allocation of knowledge resources is the key link to realize high-level scientific and technological self-reliance,and the policy of national scientific and technological achievements transfer and transformation demonstration zones is an important initiative to develop independently controllable technologies and ease the constraints of foreign technologies.Based on the quasi-natural experiment of this policy,this paper uses the panel data of Chinese A-share listed enterprises from 2011-2021,and employs the multi-period DID method to study the impact of knowledge transfer market construction on corporate OFDI.It is found that the improvement of the knowledge transfer market can create a high-quality innovation environment for en-terprises,unimpeded information dissemination channels,broaden the field of expertise,and help enterprises cultivate ownership advantages and then carry out diversified OFDI.Heterogeneity analysis shows that multinational enterprises expand their knowl-edge base through the knowledge transfer market and actively narrow the technology gap with the acquired enterprises,which can significantly improve the success rate of cross-border M&A and drive the investment scale of digital OFDI.This paper ar-gues that enterprises should make good use of the knowledge transfer platform to enrich the"patent pool",crack the key core technology,and inject powerful kinetic energy to improve the quality of opening-up.
万方数据
维普
